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University Innovation and Local Economic Growth

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  • Naomi Hausman

Abstract

This paper identifies the extent to which knowledge from U.S. universities drives industry agglomeration. Establishment-level data indicate faster growth in employment, wages, and corporate innovation after the 1980 Bayh-Dole Act's shock to the spread of innovation from universities in industries more closely related to the nearby university's innovative strengths. Federal research funding amplified the effect. University knowledge spillovers strengthen with geographic proximity, density, and local skills. Consistent with spatial equilibrium models, the growth effect is driven by nearby entry in university-linked industries, especially of multiunit expansions; these firms disproportionately partner with universities in RD, transfer IP, and innovate.

Suggested Citation

  • Naomi Hausman, 2022. "University Innovation and Local Economic Growth," The Review of Economics and Statistics, MIT Press, vol. 104(4), pages 718-735, October.
    • Handle: RePEc:tpr:restat:v:104:y:2022:i:4:p:718-735
    DOI: 10.1162/rest_a_01027
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    Cited by:

    1. Anna Stansbury & Dan Turner & Ed Balls, 2023. "Tackling the UK’s regional economic inequality: binding constraints and avenues for policy intervention," Contemporary Social Science, Taylor & Francis Journals, vol. 18(3-4), pages 318-356, August.
    2. Sarah Armitage & Noël Bakhtian & Adam Jaffe, 2024. "Innovation Market Failures and the Design of New Climate Policy Instruments," Environmental and Energy Policy and the Economy, University of Chicago Press, vol. 5(1), pages 4-48.
    3. Xuan Leng & Yichuan Zhang, 2024. "The Frontiers in Manufacturing Technologies Initiative and University Innovation," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 32(5), pages 197-225, September.
    4. Jorge Guzman & Fiona Murray & Scott Stern & Heidi Williams, 2024. "Accelerating Innovation Ecosystems: The Promise and Challenges of Regional Innovation Engines," Entrepreneurship and Innovation Policy and the Economy, University of Chicago Press, vol. 3(1), pages 9-75.
    5. Miguel Leon-Ledesma & Katsuyuki Shibayama, 2023. "(Endogenous) Growth Slowdowns," Studies in Economics 2303, School of Economics, University of Kent.
    6. Hertweck, Friederike & Yasar, Serife, 2024. "The impact of university openings on local youth," Ruhr Economic Papers 1075, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    7. Robert Calvert Jump & Adam Scavette, 2024. "Do Research Universities Recession Proof Their Regions? Evidence from State Flagship College Towns," Working Paper 24-05, Federal Reserve Bank of Richmond.
    8. Xiao Ma, 2024. "College Expansion, Trade, And Innovation: Evidence From China," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 65(1), pages 315-351, February.

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